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CITY VIEWS: HAVE WE SEEN THE END OF THE FINAL SALARY PENSION SCHEME?

<strong>RON BRADLEY </strong> DBM CONSULTANTS<br />&ldquo;Those who still have a final salary pension scheme are very lucky. It will be everybody for themselves in the future, and up to individuals to look after themselves in retirement. There has been a corporate retreat on pensions and financial responsibility. I use SIPP &ndash; a Self Invested Personal Pension.&rdquo;<br /><strong><br />DAVID SIMKINS </strong> ENGINEERING CONSULTANT<br />&ldquo;We&rsquo;ve definitely seen the end. Lots of FTSE 100 companies &ndash; including ones I&rsquo;ve worked for &ndash; have stopped the service. It&rsquo;s an attractive package to entice employees, but companies just can&rsquo;t afford it anymore. It&rsquo;s not a viable option, and we won&rsquo;t see it come back.&rdquo;<br /><strong><br />MICHAEL BROWN </strong> ROTHSCHILD<br />&ldquo;This probably is the end of the final salary pension scheme. Private pensions are the way forward. We&rsquo;re seeing everything moving that way now. It&rsquo;s not in the interests of big companies to provide such schemes for its workers. This has been the trend for a while.&rdquo;